Circle Ventures backs CrissCross to scale stablecoin payments across Africa
Circle Ventures, the investment arm of USDC issuer Circle Internet Group, has invested an undisclosed amount in CrissCross through its parent Stitch Group. The South Africa-based cross-border payments company will use the funds to expand local payment connections, build stablecoin settlement capabilities for enterprise clients, and grow its team across the continent. This marks Circle's second major African fintech bet in 2026 after backing Flutterwave's USDC settlement expansion in July.
CrissCross, founded by Lex Campbell and Byron Coetsee and acquired by Stitch, provides a single API for businesses to collect payments, make payouts, manage multi-currency treasury, and exchange currencies across 30+ African markets supporting 20+ currencies. Its infrastructure connects blockchain-based stablecoin settlement to local fiat networks—letting businesses move value via stablecoins while recipients receive local currency in bank accounts or mobile wallets.
The company operates in both CFA franc zones and serves multinational enterprises, financial institutions, and platforms navigating Africa's fragmented payment corridors. In October, CrissCross partnered with Velocity to link institutional on-chain liquidity to local collections and payouts. Sub-Saharan Africa saw $205 billion in on-chain crypto value between July 2024 and June 2025—a 52% year-over-year surge—driving demand for infrastructure bridging digital assets and local payment systems.
With Flutterwave integrating Ripple's RLUSD and Onafriq partnering with Conduit and Privy for stablecoin-powered services, stablecoins are becoming the settlement layer underneath African payments infrastructure. CrissCross aims to make collecting and paying out across Nigeria, Senegal, Kenya, and other markets as seamless as anywhere else globally.
Will your business leverage stablecoin rails to simplify cross-border African payments, or stick with traditional correspondent banking?
SOURCE: https://techcabal.com/2026/10/27/crisscross-raises-funds/